Seeking Alpha
2021-08-09 21:31:24

AMC earnings call: Back on 'offense,' adding several theaters; accepting bitcoin

AMC Entertainment (NYSE:AMC) is up 4% after its Q2 beat - and in the company's earnings call, CEO Adam Aron broke a bit of news by disclosing that after the Arclight and Pacific shutdowns, AMC is executing leases to add two of Los Angeles' highest-grossing theaters to its stable. "It's high time for AMC to start playing on offense again," Aron's said. And it's not just two new theaters, it might be 10, he says: There are six new pickups under lease or letter of intent, and they're in advanced talks to add four more. Aron had started by paying tribute and playing to the "AMC Army" of retail holders, offering a "warm welcome" to the thousands of stockholders listening, and the many more who would listen to replays. And citing all the ideas he's gotten from the retail investor army, Aron says by year-end AMC will have the information

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